| Submit your comments on this article |
| Economy |
| Used-Car Prices Reaccelerate With Biggest February Gain Since 2009 |
| 2023-03-08 |
| [ZERO] The decline in wholesale used-car prices appears temporary as the spring market shifts into gear amid supply woes. Cox Automotive reported that its Manheim Used Vehicle Value Index (MUVVI), which tracks the auction prices of used cars, increased 4.3% in February from January, the largest increase for the full month of February since 2009's 4.4% rise. Used-car prices peaked around April 2022 and have been trending slightly lower. But the latest year-over-year change in the data shows a slowing decline and monthly reacceleration in prices -- all of this is a troubling sign for the Federal Reserve as January's economic data was hotter than expected. |
| Posted by:Besoeker |
| #1 830 ET March 14 for next CPI release |
| Posted by: lord garth 2023-03-08 09:35 |